Exam 16: The Legal and Regulatory Environment of Business

If you direct outrageous conduct at someone and that person suffers extreme emotional pain as a result, you may be held liable for intentional infliction of emotional distress.

A manufacturer can be found negligent if they knew or should have known that their product was defective and they failed to warn customers.

The key to flexibility in a legal system is flexibility on the level at which rules and principles are _____.

Strict liability torts involve actions that are inherently dangerous and for which a party may be liable no matter how carefully he or she (or it) performs them.

Respondeat superior translates as _____.

After serving in Congress, George McGovern ran a successful hotel in Stratford, Connecticut.

The distinction between what's inherently bad and what's bad because we declare it bad isn't always clear.

Government intervenes in marketplace transactions because:

The direct causeandeffect relationship between the defendant's action and the plaintiff's injury is called a cause in fact.

_____ are the building blocks of a modern economy.

A(n) _____ is created when a seller affirms that a product meets certain standards of quality, description, performance, or condition.

An employee's actions fall within the scope of his employment if _____.

Litigation takes an average of 6 months from the time a complaint is filed until a judgment is rendered.

Defamation means communicating to a third party information that's harmful to someone's reputation.

Which of the following statements regarding the Uniform Commercial Code (UCC) is true

Offer and acceptance are the two parts of consideration in a contract.

There are two categories of contractual breach. They are _____.

In order to sue a manufacturer for negligence, you must prove all of the following elements of negligence EXCEPT:

Defamation in written form is called slander.

OSHA is an acronym for which of the following